Hey guys,
I went to Las Vegas last month, and I had a few losses, but overall I lost around 8 to 10K USD. Every time I was gaining a hand pay, they would withhold 30% of the winning. The entire would account for over $1900 total in my case, but that would give me a 1042-S for my income tax for possible refunds on each hand pay. If I understand rightly, after my research online, I will have to apply for an ITIN (W-7), fill out some paperwork, get my passport certified, and present a win/loss statement from the rewards card, which can be done within a month.
If I send all this paperwork of 1042-S to the IRS in the USA for refunds, do I still require to declare that with the CRA in Canada? I was reading about the tax rebate on the website. Will this be a smooth process considering the current situation? Did anyone go through this process before?
I would really appreciate any help you guys can provide.
Thank you.
I went to Las Vegas last month, and I had a few losses, but overall I lost around 8 to 10K USD. Every time I was gaining a hand pay, they would withhold 30% of the winning. The entire would account for over $1900 total in my case, but that would give me a 1042-S for my income tax for possible refunds on each hand pay. If I understand rightly, after my research online, I will have to apply for an ITIN (W-7), fill out some paperwork, get my passport certified, and present a win/loss statement from the rewards card, which can be done within a month.
If I send all this paperwork of 1042-S to the IRS in the USA for refunds, do I still require to declare that with the CRA in Canada? I was reading about the tax rebate on the website. Will this be a smooth process considering the current situation? Did anyone go through this process before?
I would really appreciate any help you guys can provide.
Thank you.